British Virgin Islands Incorporation Business Company (BC) International Business Company based in one of the most reputable financial offshore centres. BVI Business Company is tax exempted company with flexible organisational structure and strict confidentiality. BVI Business Company is applicable for any international business activity an commonly used as insurance companies, investment fund structures or group holding companies. Recurring Maintenance Fees as from the 2nd year – $1,100 Incorporation Package Package Services $1,495 FORMATION AND MAINTENANCE FEE FOR THE 1ST YEAR Name check and approval Filling incorporation documents with the Registrar of Companies Payment of the Government Fee of $350 Provision of registered office and registered address for one year Provision of company secretary and registered agent for one year Rubber seal A standard set of original corporate documents: Certificate of Incorporation Memorandum & Articles of Association Appointment of First Directors Consent Actions of the Board of Directors Share Certificates Register of Directors and Members PLUS: A apostilled set of corporate documents: Certificate of Incorporation Memorandum & Articles of Association Register of Directors and Members Corporate InformationTaxationOur ServicesCorporate Information The BVI constitute one of the world’s most reputable international financial centres and are located approximately sixty miles east of Puerto Rico and two miles from St. Thomas, U.S. Virgin Islands. On January 1, 2005, a new version of the BVI Business Companies Act was adopted, implementing further improvements in the BVI offshore corporate legislation which is already considered to be favourable. The new BVI Business Companies Act removes any distinctions between the companies operating in the domestic market and companies restricted only to international business, and joins them into one unified type of company – a BVI Business Company (BVI BC). This new corporate structure preserves all the benefits provided by the previous legislation, including exemption from taxes. LEGAL FORM The Business Companies Act based on the English law and is used, inter alia, to form various types of companies used by businesses trading in the BVI. Companies formed under the Business Companies Act can be private companies limited by shares, by guarantee, or hybrid; or they can be unlimited, but that is rare. Public companies can also be formed under the Act. A Company limited by shares is the most popular type of company formed today with the liability of its members limited to the amount paid on shares they hold. Foreign companies can re-establish themselves in the BVI without the necessity for reciprocal arrangements in the original country of incorporation. COMPANY NAME BVI business company names must end in one of the following words, or their relevant abbreviations: Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anonima. The following names to be used require licensing: Bank, Insurance, Assurance, Re-Insurance, Trust, Trustee, Savings, Royal, Asset Management, Fund Management, Investment Fund, Building Society, Municipal, Chartered. Names denoting any connection to local, state or national governments are generally prohibited. MEMORANDUM AND ARTICLES OF ASSOCIATION A company can be incorporated in the BVI by application made to the Registrar of Companies. Memorandum and Articles of Association must be lodged with the Registrar. Memorandum specifies the activities in which the company may engage and Articles of Association specify the rules governing the internal management of the company. SHAREHOLDERS A minimum of one shareholder is required, which may be an individual or a body corporate. The details of company shareholders are not part of the public records. SHARE CAPITAL There is no specific minimum capital requirement. The standard authorised share capital is US$ 50,000. The minimum issued capital may be one share of no par value or one share with par value. Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights are permitted. Companies with an authorised capital up to US$ 50,000 pay the government annual license fee of US$ 350. The annual license fee for companies with an authorised share capital in excess of US$ 50,000 is US$ 1,100. DIRECTORS BVI Business Companies must have a minimum of one director, and corporate directors are permitted. Details of the directors do not appear on the public file. There is no requirement to have resident directors. REGISTERED OFFICE AND LOCAL AGENT OR SECRETARY Each BVI Business Company is required to have a registered office and registered agent, which details should be notified to the Registrar of Companies. There is no requirement to have a company secretary; however, it is advisable to have one for administration purposes. An individual or a body corporate of any nationality can be appointed as company secretary. MEETINGS The meetings of directors or shareholders need not be held in the British Virgin Islands; also there is no requirement for an Annual General Meeting. All meetings may be held outside the BVI, by telephone or other electronic means. Alternatively, directors and shareholders may vote by proxy. INCORPORATION TIME BVI BC’s are normally incorporated within 1-2 business days; if you require the incorporation documents to be legalised via Apostille, you must allow for additional 2-3 days to have this completed. RECURRING AND MAINTENANCE FEE AS FROM 2ND YEAR Provision of registered office and registered address Provision of company Secretary & registered agent Government fee where a BC has an authorised share capital up to US$ 50,000 Taxation TAXATION BVI Business Companies are exempt from the BVI income tax, tax on dividends, interest, royalties, compensations and other amounts paid by a company; also, they are exempt from capital gains, estate, inheritance, succession or gift tax with respect to any shares, debt obligations or other securities of the company. BVI BC’s are also exempt from any kind of stamp duties related in any way to its assets or activities, with an exception for land-ownership transactions in the BVI, in which case a stamp duty remains payable. FINANCIAL STATEMENTS AND AUDIT Whilst there is no requirement to file audited accounts or annual returns with the authorities, a company is required to keep financial records, which should reflect its financial position. Our Services OUR SERVICES FOR THE COMPANY FORMATION IN BRITISH VIRGIN ISLANDS INCLUDE: Name check and approval Filling incorporation documents with the Registrar of Companies Registration Forms A standard set of original corporate documents Payment of the Government fee of $350 Provision of registered office one year Provision of company secretary and registered agent for one year Rubber seal DOCUMENTS REQUIRED FOR THE COMPANY FORMATION Please provide the following documents for all Directors, Shareholders, Beneficial Owners, Authorised Signatories: Notarised copy of valid passport. Original or Certified copy of utility bill / bank statement (as verification of residential address, dated within 3 months). Original or certified copy of Lawyer’s/Banker’s/Accountant’s reference letter (dated within 3 months). In cases where shareholders and/or directors are corporate bodies, full apostilled set of corporate documents and Certificate of Good Standing (for companies registered more than 1 year). SHIPPING COST Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to the invoice during checkout. Shipping costs for international courier services are set automatically at US$85. The fees depend on the jurisdiction of your ordered company, the country where the bank is based as well as your destination country.